The Measurement of Quality Changes

Nicholson, J. L.

doi:10.2307/2228989

Cited by 16 publications

(7 citation statements)

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“…Gordon (1994) remarks that it is implausible that the proliferation of electronic products in the 1980s and 1990s could make greater changes to living standards than were made by the automobile, major appliances, telephones, and so forth in the decades before 1973. It is also remarkable that a major article on quality errors in price indexes published 30 years ago (Nicholson, 1967) contains a list of new products-including new drugs, improved television sets, coffee bars, and increased availability of fine wines, and of fresh fruits and vegetables in the winter-that parallels the CPI Commission' s (1996) list. Although unmeasured consumer surplus biases PCE downward, no one knows whether the rate of introduction of new products increased after 1973, and whether consumer surplus accumulated at a faster rate.…”

Section: New Productsmentioning

confidence: 99%

Measuring Consumption: The Post-1973 Slowdown and the Research Issues

Triplett¹

1997

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of the Bureau of Labor Statistics. The article benefitted from a seminar presentation at the Bank of England, for which I thank William Allen. 1 Levy and Murnane (1992, p. 1,333) note, "Nineteen-hundred-seventy-three marked the end of rapid real earnings growth and the beginning of slower growth bordering on stagnation." 2 Griliches (1994) discusses measurement issues for productivity. Consumer Price Index (CPI) Commission (1996) discusses possible errors in the CPI, which provides deflators for calculating real earnings growth and real consumption growth.

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Section: New Productsmentioning

confidence: 99%

Measuring Consumption: The Post-1973 Slowdown and the Research Issues

Triplett¹

1997

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“…Internal rate of return -IRR is defined as IRR=r, where: . (12) Simple payback period (PP) -PP = min k, at which:…”

Section: Algorithm Of Building a Methodology For Evaluating The Economentioning

confidence: 99%

Method of Constructing Evaluation Criteria of Economic Efficiency of Innovative Projects with Regards to Quality Adjustment

Evgenievich¹,

Trubina²,

Trubin³

et al. 2019

Proceedings of the International Conference Communicative Strategies of Information Society (CSIS 2018)

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A methodology has been developed for constructing criteria for evaluating the economic efficiency of innovative projects, considering the price adjustment for quality with regards to new and existing industries. The proposed performance indicators in real prices were calculated on the basis of real cash flows and the real discount rate, which showed that price unevenness, has a strong influence on project performance, therefore it is necessary to use quality adjustment methods (hedonic price indices) to estimate them more accurately.

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“…Deflators for real output, real input, and real investment -for producing productivity measures or value added in national accounts -are derived primarily from price indexes estimated by statistical agencies. Whether the deflators are consumer (retail) price indexes (CPI or RPI) or producer (wholesale) price indexes (PPI or WPI), quality change has long been recognised as perhaps the most serious measurement problem in estimating price indexes (among the many possible references are: Hofsten, 1952;Stone, 1956;Price Statistics Review (Stigler) Committee, 1961;Nicholson, 1967;Griliches, 1971;Boskin Commission, 1996;.…”

Section: Relevance Of Quality Adjustment For Ict Products; Potential mentioning

confidence: 99%

Handbook on Hedonic Indexes and Quality Adjustments in Price Indexes

2004

OECD Science, Technology and Industry Working Papers

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The Working Paper series of the OECD Directorate for Science, Technology and Industry is designed to make available to a wider readership selected studies prepared by staff in the Directorate or by outside consultants working on OECD projects. The papers included in the series cover a broad range of issues, of both a technical and policy-analytical nature, in the areas of work of the DSTI. The Working Papers are generally available only in their original language-English or French-with a summary in the other. Comments on the papers are invited, and should be sent to the

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The Measurement of Quality Changes

Cited by 16 publications

References 0 publications

Measuring Consumption: The Post-1973 Slowdown and the Research Issues

Measuring Consumption: The Post-1973 Slowdown and the Research Issues

Method of Constructing Evaluation Criteria of Economic Efficiency of Innovative Projects with Regards to Quality Adjustment

Handbook on Hedonic Indexes and Quality Adjustments in Price Indexes

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